Founded in October 2020 by motorhead and ex-racer Siddharth Chaturvedi, Boys and Machines aims to create an image of quality, reliability, ethical values and  long-term relationship with the customers and business partners in the pre-owned luxury car market in India.

A car collector for a long time, Chaturvedi realised that collecting cars was an expensive hobby with the high depreciation rates attached to premium cars. This realisation gave him the idea to convert his hobby into a business to maintain his passion for cars and make money. Once that plan was in place, Chaturvedi started to understand the business of premium car resale and scouted around to pick up the right people into his team to start this venture.

After finding the team, he finally started the new business venture in October 2020, when the market had recovered from the effects of the pandemic and started getting back to normal. The pandemic had injected a fresh thought into people’s head with evident uncertainty of the future. According to Chaturvedi, post the lockdown last year, the spending nature of people has changed, and instead of waiting for the future, people have started to live their dreams. This gave Boys and Machines the perfect opportunity to enter the market and capitalise on people’s spending power.

When asked to explain the business model of Boys and Machines, Chaturvedi said, “As for the business model, we work pan India online majorly. We try getting the cars at the best possible price and conditions across India and offer them to our customers at a slightly lesser rate than the market prices.”

Boys and Machines focuses on two things while buying and selling cars – first, finding the right quality product at the right price and second, providing a hassle-free payment method by closing the deal at one go. This practice builds a strong relationship with the sellers and buyers and helps the brand have a better bargain position.

However, selecting the right car is critical for the business.  Boys and Machines has created a robust three-step verification process. In the first step, the team scouts for cars around the country. On finding a car of their choice, details like chassis number, engine number and other vital information of the vehicle are shared with the respective OEM dealerships, which conduct a background check and provide information on the status and service history of the vehicle. This is the first seal of approval.

Once the car history is verified, the details are passed on to the insurance company, which helps verify any repair work or claims done on the car outside the dealership. If the vehicle passes this step, the company sends its trained staff to the vehicle’s location for physical inspection and approval. Once the vehicle passes all three stages, a meeting is set up with the owner, and the deal is closed in one go without any hassle.

This verification system gives Boys and Machines a competitive advantage while selecting a car as no details about the car can be manipulated.

When we asked how one determines the correct price of any car, Chaturvedi explained, “There is no fixed formula. It is based on the market condition, availability of the product and the demand for the product. These are the conditions that determine the price of a vehicle”.

Buying and stocking premium cars for sale is an expensive business, so we asked Chaturvedi about the financial setup in the company and its stockholding pattern. He replied, “Typically, we stock about 30-35 at any given point. Based on the ongoing trend and the vehicle availability, we try to find a customer for a car than a car for a customer”.

e then explained that the cars in demand are hard to come by. The ones that are listed on the market ask an exorbitant amount of money to purchase. “So, if one starts scouting only for cars in demand, one can hardly sell around five cars in a year. So instead of looking for cars in demand, resellers understand the needs of the market and stock vehicles accordingly.”

For instance, the market in Mumbai is highly SUV centric. Constant flooding and waterlogging problems have pushed car users to adapt to SUVs. So, based on the need, Boys and Machines stocks SUVs from different OEMs. However, the market in Delhi is different to the market in the west of India. In Delhi, people prefer to be driven around than driving around. So, this calls for stocking of both sedans and SUVs that offer an excellent chauffeur-driven experience.

The market in Hyderabad is a hotspot for sports cars, while the eastern market is highly unpredictable. Hence, these variations do not allow the company to stock cars hailing from a single brand or category.

Premium car service is also an expensive affair. Boys and Machines has solved this problem for its clientele with a dedicated customer service team. The business offers breakdown assistance anywhere in the country along with six months of engine and transmission warranty. 

The brand also offers a fixed buy-back option on every car sold at a rate of 25 percent depreciation a year. The buy-back price is decided on the day of the purchase, and customers can come back to the showroom after one year and exchange their car at the pre-determined price.

These small steps go a long way in building customer confidence and aids Boys and Machines in retaining 100 percent of its clientele. Also, word of mouth is a significant marketing source that helps the brand name reach a larger audience.

Talking about the expansion plans for Boys and Machines, the managing director explained that they are on course to inaugurate eight outlets by the end of the year. At the moment, there are three working outlets in Gurugram, Mumbai and Kolkata. The fourth one in Hyderabad is ready to be opened, but the launch has been postponed due to the ongoing COVID situation and the subsequent lockdown. The other cities selected are Indore, Ahmedabad, Chandigarh and Goa.

Intrigued by the choice of cities for its showroom launch, we asked Chaturvedi what the critical considerations are for opening a showroom. Explaining the business preference, he said that Delhi and Mumbai were the default selection for opening a showroom based on the intense demand and spending power of people in these regions. Boys and Machines selected Kolkata as a gateway to the east, helping it tap into this new market and utilise the lower RTO tax in the region.

Bengaluru and Hyderabad were the brand’s options for opening its fourth showroom. Keeping in mind the saturation of the Bengaluru market and observing the recent boom in sports car demand in Hyderabad, the company decided to settle with Hyderabad and tap this growing market’s massive demand for sports cars.

After the first round of selection of the city, the company observed two things: the surge in real estate in the region and the rate of sale of premium cars in the area. “Cities that start to buy new cars, which are at almost twice the price of a used one, means the aspiration of people there is high. The prospect of buying a higher tier used car at the price of a brand-new premium car helps meet the aspiration of many in the region. These factors help us decide the next region for starting our business,” Chaturvedi added.

He also revealed the company’s ongoing negotiations with external suppliers to help import cars previously not available in the Indian market from countries like Japan, US and more. He mentioned that the high import duties and the challenging import process are the hurdles that have pushed many players away from importing new and unique products into the market.

He also spoke about the challenges from the market’s unorganised players, especially in the 20-40 lakh price bracket. However, he clarified that this is more of a teething problem in North India as compared to the Southern regions because the North people tend to purchase eight-year-old cars costing more than a crore at just 25-30 lakh, while in the South, people don’t seem to mind spending a lakh or two more on a well-rounded package that offers them peace of mind.

When asked about the challenges the second wave of the pandemic has posed, he said, “The biggest challenge right now is the pandemic. We don’t know when the market opens and what the people’s emotions will be as the second wave has been more deadly or more impactful to everyone from the first wave. So, as of now, the biggest hurdle would be how the country recovers after pandemic and how difficult will it be to find the right product for the buyers”.

On the future plans, he said that the company plans to have a turnover of around 100 crores with approximately seven to eight percent profit margin. (MT)

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Global NCAP, the automotive safety watchdog, has announced the latest results for its #SaferCarsForIndia campaign, with two models from Maruti Suzuki India, the country's largest passenger vehicle manufacturer, receiving mixed results.

The latest crash test result saw Global NCAP awarding the Maruti Suzuki Celerio a three-star rating for adult occupant protection following the inclusion of six airbags as standard. A previous version of the vehicle, equipped with two airbags, had received two stars for adult occupant safety and one star for child protection.

The technical evaluations of the six-airbag Celerio indicated protection levels ranging from good to marginal. The assessment noted that both the footwell and the bodyshell were unstable. Tests also showed exposure of children’s heads during front and side impacts.

On the other hand, the company’s popular sedan model the Maruti Suzuki Ciaz received a 1-star rating in the same assessment. The report for this model highlighted:

• The absence of side head protection.
• An unstable footwell and bodyshell.
• A lack of three-point seatbelts in all seating positions.

In contrast, Global NCAP reported that the new Dzire and Victoris models achieved five-star ratings.

Richard Woods, Chief Executive Officer of Global NCAP, said, “We are encouraged that Maruti Suzuki is committed to improving safety with five star performance for new models like the Dzire and Victoris, it remains disappointing however that some legacy models fall short.”

The results follow a commitment from Maruti Suzuki to increase safety standards across its future vehicle range.

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CARS24 has announced the promotion of Divanshu Saxena to Chief Business Officer (CBO) of its NBFC arm, CARS24 Financial Services.

In his new role, Saxena will oversee the strategy, growth and execution of the financial services division. His responsibilities include scaling lending operations, managing risk and maintaining profitability as the company develops its financial services platform.

Saxena previously managed the consumer financing business for LOANS24. During his tenure, the division recorded growth in finance penetration and contributions from non-retail lending. The company noted that his work focused on unit economics and portfolio quality.

Ruchit Agarwal, Co-Founder & Group CFO, CARS24, said, “Divanshu has played a pivotal role in building CARS24 Financial Services into a strong and institutionally sound business. His disciplined approach to growth, deep understanding of lending economics, and consistent execution have laid a solid foundation for scale. We are proud to elevate leaders from within, and as CBO, Divanshu will be central to shaping the next phase of growth for LOANS24.”

Before joining CARS24, Saxena served as a Project Leader at Boston Consulting Group (BCG) within the Financial Services and Industrial Goods practice. He is an alumnus of IIM Calcutta, where he graduated with a silver medal, and Shri Ram College of Commerce (SRCC), University of Delhi.

Divanshu Saxena said, “Building LOANS24 has been about creating a lending business that balances speed with discipline and growth with resilience. As CBO, my focus will be on scaling responsibly, strengthening our fundamentals, and continuing to build a financial services platform that earns long-term trust from customers and partners.”

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South Korean auto major Hyundai Motor Group has announced executive appointments effective from 1st January 2026. The changes focus on the transition to software-defined vehicles (SDV) and the development of manufacturing technology.

In total, 219 executives have been promoted across the Group, comprising four Presidents, 14 Executive Vice Presidents, 25 Senior Vice-Presidents and 176 Vice Presidents. Approximately 30 percent of these promotions are within R&D and technology sectors.

Manfred Harrer has been promoted to President and Head of the R&D Division. Since joining in 2024, Harrer has managed vehicle development. His new role focuses on SDV competitiveness and development projects.

Juncheul Jung is promoted to President. Jung currently manages the Manufacturing Solutions and Procurement Divisions. His remit involves the Group's Software-Defined Factory (SDF) approach and the integration of robotics into production systems.

Yeong Il Choi becomes Executive Vice President and Head of Domestic Production. Choi also takes the role of Chief Safety Officer (CSO) for production facilities in South Korea.

The company also announced revamping leadership positions in its regional business, where it has appointed Seung Kyu Yoon as President of Kia North America Operations, Bo-Ryong Lee as President and CEO of Hyundai Steel Operations, Gang Hyun Seo as Head of Corporate Planning, Affiliate Business Optimisation, Sungwon Jee as Executive Vice-President, Hyundai Brand Marketing and Yongseok Shin as Executive Vice-President of HMG Business Intelligence Institute.

Hyundai Motor Group has internalised technologies including the 'Pleos Connect' infotainment system and 'Atria AI' for autonomous driving. Appointments in engineering include Jeonghun Seo in Battery Engineering and Duckhwan Kim in Hydrogen and Fuel Cell Engineering.

Jaehoon Chang, Vice Chair, continues to oversee the direction for mobility, hydrogen energy and robotics. Within the financial sector, Chang Hyun Cho (Hyundai Card) and Si Woo Jeon (Hyundai Commercial) have been promoted to Executive Vice-President.

"The appointments are intended to strengthen organisational resilience and expand the leadership pipeline across functions. In addition, the appointments reflect the Group’s commitment to turning global uncertainties into opportunities for renewal and growth. It will continue to advance bold leadership transformation and secure strong competitiveness in the SDV era," the company said.

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Maruti Suzuki India has attained a production milestone of 3.5 million units for the popular hatchback the WagonR.

The model, which spans three generations, was first launched in India in December 1999 and is currently manufactured at the company's facilities in Gurgaon and Manesar, Haryana.

The WagonR joins the Alto and Swift as models within the Maruti Suzuki portfolio to reach this volume. Globally, the Suzuki WagonR was first introduced in Japan in September 1993 and is now sold in over 75 countries. In August 2025, the model reached 100 million units in cumulative global sales.

The current WagonR is built on the fifth-generation Heartect platform. Standard safety features include six airbags, Anti-lock Braking System (ABS) with Electronic Brakeforce Distribution (EBD) and Electronic Stability Program (ESP).

On the inside, it comes with a 7-inch touchscreen infotainment system. Connectivity via Apple CarPlay and Android Auto. Bluetooth and voice command functionality.

The vehicle has been the highest-selling car in India for the previous four financial years.

Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India, said, “This achievement is not just a production milestone, but reflects the enduring love and confidence that generations of customers have shown towards brand WagonR. It is rare for a vehicle to receive such acceptance even after 25 years since its launch. The WagonR kept evolving with the introduction of new technology and features over time, while retaining its original DNA. The WagonR has been highly appreciated for aspects like its iconic tall-boy design, spacious interiors and fuel efficiency, which aptly reflect our customers’ needs and expectations. We are deeply grateful for their continued support and remain committed to providing ‘Joy of Mobility’ for generations to come.”

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